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Prospex Energy PLC - investor in onshore and shallow offshore European gas and power projects - Receives notice for exercise of warrants to subscribe for 2.7 million new shares at 3 pence each, generating £80,000. Following admission, there will 277.6 million shares in issue. Explains that 92% of warrants issued in March 2021 are now converted. Chief Executive Officer Mark Routh estimates that the warrants so far have generated £750,000 income for Prospex.
CEO Routh adds, referring to the Selva gas field in Italy: "I am glad to report that the present board does not expect to issue any further warrants and it believes that the company now has sufficient working capital to first gas from Selva, which is expected early next year. We look forward to meeting the company's future day-to-day capital requirements from existing resources and future revenue streams generated by the company".
Current stock price: 9.83 pence each, up 4.6% on Tuesday morning in London
12-month change: up sharply from 3.45p
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